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01-10-2008, 02:41 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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Recession Looming
Brace yourselves. Personally, I would just as soon get it over with.
www.kansascity.com | 01/09/2008 | Goldman Sachs economists say recession may already be here
The problem is that if the Fed continues to cut rates too far... that is what got us where we are today. Rates are too low for too long is not a good solution. They would be better off letting the system purge itself.
I am all for prosecuting some of the (individual CEOs and Officers) opportunist at the banks and mortgage companies that created the sub-prime mess. They knew exactly what would happen. Unleash the federal pit bull (Justice Department) on them and ruin them financially and personally for their flagrant misdeeds... Send a message. "You ruin us (the well being of the country)... we will ruin you." Get the IRS to turn over every rock until they find something.
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01-10-2008, 06:34 AM
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#2
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gone traveling
Join Date: Nov 2005
Posts: 2,146
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Quote:
Originally Posted by chinaco
Brace yourselves. Personally, I would just as soon get it over with.
www.kansascity.com | 01/09/2008 | Goldman Sachs economists say recession may already be here
The problem is that if the Fed continues to cut rates too far... that is what got us where we are today. Rates are too low for too long is not a good solution. They would be better off letting the system purge itself.
I am all for prosecuting some of the (individual CEOs and Officers) opportunist at the banks and mortgage companies that created the sub-prime mess. They knew exactly what would happen. Unleash the federal pit bull (Justice Department) on them and ruin them financially and personally for their flagrant misdeeds... Send a message. "You ruin us (the well being of the country)... we will ruin you." Get the IRS to turn over every rock until they find something.
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Nah the IRS would rather go after the hard working joe and his wife making 60K a year!
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01-10-2008, 06:48 AM
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#3
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Full time employment: Posting here.
Join Date: Aug 2006
Location: athens
Posts: 802
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Quote:
Originally Posted by chinaco
Brace yourselves. Personally, I would just as soon get it over with.
www.kansascity.com | 01/09/2008 | Goldman Sachs economists say recession may already be here
The problem is that if the Fed continues to cut rates too far... that is what got us where we are today. Rates are too low for too long is not a good solution. They would be better off letting the system purge itself.
I am all for prosecuting some of the (individual CEOs and Officers) opportunist at the banks and mortgage companies that created the sub-prime mess. They knew exactly what would happen. Unleash the federal pit bull (Justice Department) on them and ruin them financially and personally for their flagrant misdeeds... Send a message. "You ruin us (the well being of the country)... we will ruin you." Get the IRS to turn over every rock until they find something.
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ahh...that's pretty harsh Chinaco. Besides, what else has the Fed got to do.
__________________
Can't you see yourself in the nursing home saying, " Darn! Wish I'd spent more time at the office instead of wasting time with family and friends."
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01-10-2008, 07:26 AM
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#4
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Recycles dryer sheets
Join Date: Dec 2005
Posts: 137
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Rate cutting is probably going to have little effect this time. It's a insolvency crisis (with a few other crises thrown in), rather than a liquidity crisis.
Example - auto purchases. Auto makers are offering crazy zero percent financing, for years, but they still can't move the metal. We've come to a point that people just don't want or need lots of new cars.
Slash rates to zero, and savor both the zero bound problem and the concept of pushing on a string. It'll be a comfort, but likely won't help overly much.
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01-10-2008, 10:30 AM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: May 2005
Posts: 17,241
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Ahhhh.... when did stupidity become a crime?
Lending money to someone who can not pay it back is not a crime.... stupid, but not a crime...
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01-10-2008, 10:46 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,204
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For the most part it has been US auto makers offering 0% financing and Imports on SUV's and such. Try to get 0% on a hybrid. With the exception of the Escape and Mountaineer, thy may have it not sure.
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Recession means two consequtive quarters with Negative Growth
01-10-2008, 12:12 PM
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#7
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Recycles dryer sheets
Join Date: May 2007
Location: Belmont
Posts: 160
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Recession means two consequtive quarters with Negative Growth
First off, the MSM has to scream DOOM and GLOOM or we wouldn't listen and watch. A great many economists predict a slowing of growth in 2008, but few actually predict a Recession based on its real definition (See Title).
Here's a link with 2008 predictions on growth:
wgdp.bmp (image)
Note, the US' and Europe's growth is forecast around 2%(after inflation). The rest of the world is forecast to grow at a much faster rate.
Another chart from: CARPE DIEM
world.bmp (image)
So, chill out!
__________________
Work is the curse of the partying class!
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